Rigetti&#8217;s revenue growth signals a maturing quantum computing market, 
potentially impacting tech investments and prompting crypto security 
innovations.
The post Rigetti Computing posts Q1 revenue of $4.4M, nearly triples year over 
year appeared first on Crypto Briefing.

Rigetti Computing posts Q1 revenue of $4.4M, nearly triples year over year

Data shows the Ethereum Open Interest has surged alongside the latest retrace 
in the asset&#8217;s price. Here&#8217;s what this could mean for the cryptocurrency. 
Ethereum Open Interest Has Seen A Rise Recently As highlighted by analyst 
Maartunn in an X post, the Ethereum Open Interest has just witnessed a surge. 
The &#8220;Open Interest&#8221; here refers to an indicator that measures the total amount 
of positions related to the cryptocurrency that are currently open on all 
centralized derivatives exchanges. Related Reading: Bitcoin Cycle Indicator 
Turns Green For First Time In Years: Early Bull Or Local Top? When the value 
of the metric rises, it means the investors are opening fresh positions on the 
market. As new positions generally come with more leverage for the sector, 
this kind of trend can lead to more volatility. On the other hand, the 
indicator observing a drop suggests holders are either getting liquidated or 
closing positions of their own volition. In either case, the resulting 
leverage washout can make the market behave in a more stable manner. Now, here 
is the chart shared by Maartunn that shows the trend in the Ethereum Open 
Interest over the last couple of days: As displayed in the above graph, the 
Ethereum Open Interest has witnessed a rise during the past day. This suggests 
that some new positions have appeared on the derivatives market. 
Interestingly, the development has arrived alongside a decline in the ETH spot 
price. Some of these positions would correspond to bullish traders hoping to 
catch the bottom, while others would be bearish bets looking to ride the 
downward move. &#8220;That kind of setup usually means someone’s about to get 
liquidated,&#8221; noted Maartunn. Naturally, if the asset reverses from here, the 
shorts that have piled up will get liquidated, providing further fuel for the 
move. But if the downtrend continues, longs could get punished instead. It now 
remains to be seen how the Ethereum price will develop in the coming days. In 
some other news, on-chain analytics firm Santiment has shared updated rankings 
of Ethereum-based projects in terms of the Development Activity, a metric that 
captures the amount of work done by the developers of a given project on its 
public GitHub repositories. Related Reading: SUI Surges 40%: Analytics Firm 
Explains What’s Driving The Rally Below is the table shared by Santiment that 
shows how the top 10 projects that are partially or fully affiliated with the 
ETH ecosystem look right now. From the table, it&#8217;s visible that Ethereum&#8217;s 
native token ranks only third on 30-day Development Activity, with MetaMask 
USD (mUSD) and Chainlink (LINK) both ahead of the project. While ETH is 
relatively close to the latter, the former&#8217;s repository has been seeing a 
behemoth amount of work with its Development Activity far ahead of the rest. 
ETH Price Ethereum neared the $2,400 level on Sunday, but the retrace since 
then has meant that its price is back below $2,300. Featured image from 
Dall-E, chart from TradingView.com

Ethereum Open Interest Rises While Price Pulls Back: Short Squeeze Setup?

A stronger-than-expected U.S. inflation print has complicated the Federal 
Reserve’s policy outlook, with markets rapidly repricing the likelihood of 
rate cuts this year after April’s Producer Price Index (PPI) came in at 1.4%. 
A stronger-than-expected U.S. inflation print has complicated…

Rate-cut expectations fade as strong PPI data signals persistent inflation pressure

Toncoin price has pulled back sharply over the past several days after a 
strong breakout rally earlier this month pushed the token to its highest level 
in weeks. According to data from crypto.news, Toncoin (TON) dropped to around 
$2.16 at…

Will Toncoin price drop under $2 as bearish crossover nears confirmation?

The exploit highlights the persistent vulnerability of DeFi systems, risking 
investor confidence and potentially stalling sector growth.
The post DeFi protocol Transit Finance reportedly hit by $1.8 million exploit 
appeared first on Crypto Briefing.

DeFi protocol Transit Finance reportedly hit by $1.8 million exploit

Investors&#8217; quick return to emerging markets post-Iran conflict highlights 
resilience and the strategic advantage of buying geopolitical dips.
The post Emerging market investors return to assets after Iran war shock, IIF 
data shows appeared first on Crypto Briefing.

Rigetti Computing posts Q1 revenue of $4.4M, nearly triples year over year

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